For an economy, the following information is given to you.C= 0.7(1 -t)YI 300-0.02rM"/P= 2+0.2Y – 0,3rwhere C is consumption t is proportion income tax rate, I is investment, M" is money demand, P is price, Y isincome (output) and r is real interest rate. If Government expenditure (G) is 479 , tax rate (t) is 14%, price level (P) is 17, and nominal money supply is 980, the IS-LM equilibrium output is(two decimalpoints).

The IS-LM (Investment Savings-Liquidity preference Money supply) model focuses on the equilibrium of…

For an economy, the following information is given to you. C = 0.7(1 - t)Y I= 300-0.02r M"/P 2+0.2Y - 0.3r vhere C is consumption, t is proportion income tax rate, I is investment, M“ is money demand, P is price, Y ncome (output) and r is real interest rate. If Government expenditure (G) is 479, tax rate (t) is 14%, price leve- P) is 17, and nominal money supply is 980, the IS-LM equilibrium output is (two decimal oints).

For an economy, the following information is given to you. C = 0.7(1 - t)Y I= 300-0.02r M"/P 2+0.2Y - 0.3r vhere C is consumption, t is proportion income tax rate, I is investment, M“ is money demand, P is price, Y ncome (output) and r is real interest rate. If Government expenditure (G) is 479, tax rate (t) is 14%, price leve- P) is 17, and nominal money supply is 980, the IS-LM equilibrium output is (two decimal oints).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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